DraftKings debuted a new safer gambling tool available to users across all of its online platforms.
The responsible gambling tool, named ‘My Budget Builder,’ can be used through DraftKings' app and website. It lets players set their own limits and reminders on deposits, wagers, losses, and gambling time.
Key takeaways
- DraftKings extended its responsible gambling offering with its new tool ‘My Budget Builder’.
- The tool allows players to set limits when gambling.
- The tool comes after DraftKings formed a PAC, as it looks to enter electoral politics.
According to DraftKings, customers will be able to tailor budgets by limiting things like contest entries or maximum wager size. While they can tighten limits at any time, these can’t be eased or removed until the set time limit elapses. The new tool follows last year’s feature, ‘My Stat Sheet,’ which tracks a player’s gambling activity and drew over 20 million visits.
The company says the tool represents a more active approach to promoting safer gambling, through empowering customers.
“It’s intuitive, proactive, and personalized. We want to give players the resources they need to play responsibly while still enjoying the experience,” said Lori Kalani, chief responsible gaming officer at DraftKings.
The launch also comes as scrutiny grows around online betting and its potential harm, leading to increasing regulatory pressure. In New Jersey alone, lawmakers are considering a bill that would introduce gambling education to high school students.
DK launches political action committee
In recent news, DraftKings also decided to enter the world of electoral politics by forming a political action committee (PAC). It will be headed by legal and federal affairs experts and is one of the first PACs a major online sportsbook formed.
The sports betting boom that occurred since the 2018 U.S. Supreme Court decision generated a lot of attention. Bettors wagered nearly $150 billion in 2024, but some opponents have raised concerns about gambling addiction and consumer protection.
Last year, a federal Senate Judiciary Committee hearing examined these issues in depth, and lawmakers suggested tighter regulation.
This isn’t DraftKings' first experience in politics, however. Last year, it spent over $400,000 on federal lobbying and handed over around $500,000 to different political campaigns.
DKs' pushback on Illinois betting taxes
DraftKings also challenged Illinois regulators. Beginning in September, it will implement a 50-cent transaction fee on all wagers made in the state. The decision is a response to increased state taxes on gambling operators.
According to DraftKings, state lawmakers more than tripled the industry’s tax rate in two years, which could lead to customers switching to unregulated sites.
Although DK suggested it could scrap the fee if legislators lightened the tax burden, the plan underlines the growing tension between sports betting companies and regulators.
